Instructions for Form IL-1040 Schedule M Other Additions and Subtractions for Individuals - Illinois

Form IL-1040 Schedule M Other Additions and Subtractions for Individuals - Illinois

This document contains official instructions for Form IL-1040 Schedule M, Other Additions and Subtractions for Individuals - a form released and collected by the Illinois Department of Revenue. An up-to-date fillable Form IL-1040 Schedule M is available for download through this link.

FAQ

Q: What is Form IL-1040 Schedule M?
A: Form IL-1040 Schedule M is a tax form used by individuals in Illinois to report other additions and subtractions to their income.

Q: What are additions and subtractions on Schedule M?
A: Additions and subtractions on Schedule M are adjustments made to your income that can either increase or decrease your taxable income.

Q: What types of additions can I report on Schedule M?
A: You can report additions such as alimony received, jury duty pay, and certain retirement income on Schedule M.

Q: What types of subtractions can I report on Schedule M?
A: You can report subtractions such as contributions to a college savings plan, certain health savings account deductions, and certain retirement income exclusions on Schedule M.

Q: When is the deadline for filing Schedule M?
A: Schedule M must be filed along with your Illinois income tax return, which is typically due on April 15th, or the next business day if April 15th falls on a weekend or holiday.